As stated before, I prefer to stay out of politics here on this blog, however, the crossover with the pandemic, financing and government is nearly impossible to avoid.
The full details have yet to be released. But over the last 24 hours, the elements of the proposal have come into sharper focus, with $250 billion set aside for direct payments to individuals and families, $350 billion in small business loans, $250 billion in unemployment insurance benefits and $500 billion in loans for distressed companies.Stimulus package: White House, Senate reach historic $2 trillion deal amid growing coronavirus fears – CNNPolitics
There has been some bi-partisan support in the U.S government for a $2 trillion dollar deal that will provide support for “distressed companies” presumably movie theater chains will be on this list.
Those couples with adjusted gross income of $150,000 or less will get a check for $1,200 each and $500 per child. Our national debt will soon rise to over $25 trillion dollars. See the debt clock linked above.
I get why we’re sending stimulus checks to people, not so sure about all the businesses getting help, but that’s a rabbit hole I probably shouldn’t get into. It’s not like these businesses are going to be out for a long time, and the fact that we setup bailouts for businesses under the fear of them not wanting them to go out of business is a bit vexing to me.
I’m all for helping individuals, families and small businesses, but less interested in helping big businesses (most don’t need the help, although they are opportunistic and holding their hands out). Especially when we’re bound to see executive golden parachutes and high salaries continuing to permeate the headlines.
Not even sure how I feel about helping out the movie theaters. Is this something a country deep in debt should be doing?
If you’re business is failing and you’re an executive or high level senior manager you shouldn’t be getting some multi-million dollar deal, you should be worried about keeping your job. Instead, it’s the lower level employees getting laid off, the business gets bailed and the executives get raises. That’s a pretty broad sweeping comment, so it obviously doesn’t apply to every business, but that’s my take from watching time and again the government screw over the regular workers and the corporation gets “help” from taxpayers. That’s all of us helping the wrong people.
Look at the debt. I’ll be dead and gone before that 25+ trillion dollars is likely the major issue it should be, but for my children and grandchildren, we’re leaving an awfully big bill they will need to worry about paying.
Forget the pandemic, the real disease is financial. It’s called debt and interest. And it’s just a matter of time before there is 100% infection in every taxpayer’s bank account.